Episcopal leaders nix Mideast divestment

The Episcopal Church has flatly rejected a church-based movement to pull investments from Israel, instead choosing a strategy of “positive investment” among Palestinians and “corporate engagement” with Israel.

The church’s Social Responsibility in Investments Committee said the church should keep its investments in the region and not follow the Presbyterian Church (U.S.A.) and others who are seeking to divest from some companies doing business in Israel.

“The goal is for selected companies to change behavior resulting in a more hopeful climate for peace,” the committee’s 12-page report said. “If the church simply divests, nothing positive has happened.”

The church’s executive council approved the plan during a meeting in Las Vegas last month. The church’s investment portfolio totals $265 million; church officials could not say how much of it was tied to the Israeli-Palestine.